Phiture’s NetSuite Journey

Towards the end of Q1 2023, Phiture embarked on an ERP journey. They picked NetSuite for its scalability and flexibility. Alta Via was the chosen partner to deliver this project because of its agile team, knowledge of the product, and experience with similar organizations.

Phiture is an award-winning mobile growth consultancy provider, that offers services to equip product and marketing teams with the skills and knowledge they need to grow their apps. Their services include app store optimization, performance marketing, subscription revenue optimization, retention and CRM or growth consulting. Phiture offers these key services, leveraging their industry-acclaimed mobile growth stack as a strategic framework. With offices around the globe, right from New York City to London, over Berlin to Singapore, Phiture operates worldwide.

The plan was to start small and slowly grow, with more features for Phiture, more geographies, and more automations. With this idea in mind, the finance team decided to go with NetSuite’s SuiteSuccess Financial First platform.

Let’s take a look at this stairway depicting Phiture’s NetSuite journey:

Alta Via’s SuiteSuccess team supported the NetSuite implementation at Phiture with planning, consulting, leading the setup, testing and training the users, and also offering augmented support for daily accounting operations.

The journey started off with the concept of introducing a business platform to Phiture that helps them with the financial foundation, AR, AP, revenue recognition and banking for their German parent company. Alta Via implemented leading NetSuite practices to enable Phiture to manage their business processes within the system.

Key highlights of the first phase at Phiture:

  • Focus on leading practices for the German parent company
  • Different ways of revenue recognition; straight line, based on project progress, delivery based, upon invoicing
  • Enabling AR and AP
  • Implementing bank feeds and reconciliation
  • Support with hands-on accounting operations

We went live with this phase in September 2023, and we initiated the next steps of our journey right away:

  • Bringing more automations in AP;
    • ZoneCapture for scanning and capturing incoming supplier invoices
    • Introducing approvals on vendor bills for non-NetSuite users at Phiture
  • Adding Phiture’s US subsidiary to the system

And the journey of growth continues…

“The Netsuite implementation has enabled us to insource all accounting processes and build up an efficient and scalable accounting organization. Moreover, it lays the basis for our FP&A / Controlling and thus enables the steering of Phiture from a financial perspective. I was impressed with how fast the rollout worked. Alta Via has done a great job of providing workable solutions for each process step. They guided us on standards to follow while taking the specifics of our business into account.” (Philipp Benke, CFO, Phiture)

“Phiture’s requirements were crystal clear. Their vision of what the system should do for them, expectations with their automation, all of it was detailed in depth since the very beginning. Our teams could collaborate on all fronts to support the NetSuite project and get them to use the system in about five months. We are always happy and proud to see such a successful implementation, and to continue our support towards Phiture’s growth journey.“ (Parth Virkud, Partner, Alta Via)

To know more about the NetSuite project at Phiture or about the SuiteSuccess methodology, please get in touch with us at sales@altavia.de.